Notes to SEFA
The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of CORD, Inc. and subsidiary. The nature of the Organization is defined in Note 1 of the consolidated financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. The accrual basis of accounting is described in Note 1 of the footnotes to the consolidated financial statements. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some of the amounts presented in the Schedule of Expenditures of Federal Awards may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
The Organization did not elect to apply the de minimis indirect cost rate.